Lloyd’s attracts Entrants Despite Brexit
Friday, 09 16 2016, Category: Insurance and Reinsurance, Country: United Kingdom
The Lloyd’s of London insurance market has a queue of companies wanting to join, Chairman John Nelson said on Monday, even as Britain’s vote to leave the European Union casts doubt over its European business.
Nelson said last week that Lloyd’s, the world’s leading specialty insurance market, would have to operate some business from the EU after Brexit if Britain fails to keep so-called passporting rights for financial companies to sell products across the bloc.
A decision on where those operations might be based has yet to be made, but the Brexit uncertainty has not deterred would-be entrants to the market, Nelson told Reuters at the reinsurance industry’s annual meeting in Monte Carlo.
Source: Insurance Journal